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Old 03-24-2017, 09:16 AM   #126
feedmykids2
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Re: AMA about the logistics industry or working at a freight brokerage

Congrats and good luck!
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Old 04-27-2017, 01:38 PM   #127
Duffman08
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Re: AMA about the logistics industry or working at a freight brokerage

Thanks for the thread, very informative read. I was actually interviewing for freight broking jobs in late 2014 after finishing school (took a niche trading job instead). Thinking of looking again at the industry. What's your 5-10 year outlook for freight brokers? Could Amazon's Uber for trucks and/or other technology platforms hurt profitibility for brokers/eventually eliminate them entirely? How will your role in the industry change(if at all) once a huge majority of the trucks are self driving ? Thanks again man!


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Old 04-28-2017, 05:12 AM   #128
BoredSocial
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Re: AMA about the logistics industry or working at a freight brokerage

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Originally Posted by Duffman08 View Post
Thanks for the thread, very informative read. I was actually interviewing for freight broking jobs in late 2014 after finishing school (took a niche trading job instead). Thinking of looking again at the industry. What's your 5-10 year outlook for freight brokers? Could Amazon's Uber for trucks and/or other technology platforms hurt profitibility for brokers/eventually eliminate them entirely? How will your role in the industry change(if at all) once a huge majority of the trucks are self driving ? Thanks again man!


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The 5-10 year outlook is that brokers will move more freight for less money per piece... which will cause the average freight brokers pay to increase while the total number of jobs available decreases.

Our role isn't going away, but technology is making us ever more productive. I'm completely fine with this trend as I'm comfortably burrowed into the top 5% of my occupation in terms of technology and operations capability.

I can say that the age of the semi stupid freight broker who made a lot of sales calls and burned through customers on a regular basis because of operational errors is coming to a close. The freight broker of the future will be significantly smarter and significantly less charming.
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Old 07-13-2017, 08:22 PM   #129
Garden State
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Re: AMA about the logistics industry or working at a freight brokerage

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Originally Posted by BoredSocial View Post
The 5-10 year outlook is that brokers will move more freight for less money per piece... which will cause the average freight brokers pay to increase while the total number of jobs available decreases.

Our role isn't going away, but technology is making us ever more productive. I'm completely fine with this trend as I'm comfortably burrowed into the top 5% of my occupation in terms of technology and operations capability.

I can say that the age of the semi stupid freight broker who made a lot of sales calls and burned through customers on a regular basis because of operational errors is coming to a close. The freight broker of the future will be significantly smarter and significantly less charming.
Could you expand on this, specifically operational errors? Other than a negligible amount, why do you think "customers" will be looking to work with less charming, but smarter brokers? Wouldn't more charismatic/charming brokers be able to develop better relationships with trucking companies/owner operators?
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Old 07-13-2017, 08:37 PM   #130
BoredSocial
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Re: AMA about the logistics industry or working at a freight brokerage

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Originally Posted by Garden State View Post
Could you expand on this, specifically operational errors? Other than a negligible amount, why do you think "customers" will be looking to work with less charming, but smarter brokers? Wouldn't more charismatic/charming brokers be able to develop better relationships with trucking companies/owner operators?
Charming isn't a lot of good when your trucks are late 150% more often than mine are. If I'm at 90% and you're at 70% and I'm doing it for 50 bucks cheaper you are toast. Technology is making it possible for the brokers who make the best decisions to rapidly rise to the top over brokers who screw up a lot or cost a lot.

The larger volume customers are expecting better service for less money, and they give freight brokers so much money that we will pretty much do whatever they want as long as it's physically possible. And if we can't someone else will. It's the way of the world.
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Old 07-15-2017, 07:24 AM   #131
Garden State
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Re: AMA about the logistics industry or working at a freight brokerage

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Originally Posted by BoredSocial View Post
Charming isn't a lot of good when your trucks are late 150% more often than mine are. If I'm at 90% and you're at 70% and I'm doing it for 50 bucks cheaper you are toast. Technology is making it possible for the brokers who make the best decisions to rapidly rise to the top over brokers who screw up a lot or cost a lot.

The larger volume customers are expecting better service for less money, and they give freight brokers so much money that we will pretty much do whatever they want as long as it's physically possible. And if we can't someone else will. It's the way of the world.
Interesting...

What technology do you think you utilize more than the average broker?
Now that you're on your own, how do you go about acquiring new customers?
How many new customers have you acquired since you started?
How do you sell them initially to use you?
What has been the biggest benefit of being on your own?
Hardest part of starting your own business?

Thank you.
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Old 07-15-2017, 10:03 AM   #132
BoredSocial
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Re: AMA about the logistics industry or working at a freight brokerage

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Originally Posted by Garden State View Post
Interesting...

What technology do you think you utilize more than the average broker?
Now that you're on your own, how do you go about acquiring new customers?
How many new customers have you acquired since you started?
How do you sell them initially to use you?
What has been the biggest benefit of being on your own?
Hardest part of starting your own business?

Thank you.
What technology do you think you utilize more than the average broker?

I can't answer the first question. Not because I don't have an answer but because the answer is serious as a heart attack proprietary. It's not just one thing either.

Now that you're on your own, how do you go about acquiring new customers?
I research prospects using linkedin and use a decent crm to keep track of my sales data and follow up. It's a drag but it works.

How many new customers have you acquired since you started?

I really have no idea how many accounts I've moved one or two loads with and then stopped. In terms of major customers I landed 7 my first year, 2 my second year (I spent the majority of the year actively not prospecting as I wasn't planning to stay where I was), and 6 since my non-compete ended back in September. I'm considering anyone who I've done 100k in sales with 'major'. I've only had 3 accounts that I've done more than 1M+ in sales with and they were the vast majority of my total sales since I started. I often find almost all of my time being bought during the produce season by major produce shippers. As a result I make over 100k from 5/1- Halloween and am pretty slow the rest of the year. I'm definitely looking to break that cycle this year somewhat.

How do you sell them initially to use you?

I call them and ask what the process is for getting setup. And then I sound like I know exactly what I'm doing. Being confident because you know you're great is a pretty strong sales tactic lol. Being insanely honest to the point of oversharing is great too. I contrast VERY well with random early 20 somethings from TQL who call them all day.

What has been the biggest benefit of being on your own?

I'm no longer looking over my shoulder wondering if I'll have a job the next day. Seriously my first freight brokerage was a very dysfunctional place to work. I've never made anyone so much money while simultaneously being so scared they were going to do something self destructive like fire me right before the produce season started.

Honestly though I think I'm just a lousy employee. I also may be a lousy boss because I just had to fire the second of the two guys I hired for the season the beginning of last week. I'm a ****ing fantastic vendor though.

Hardest part of starting your own business?

I made the conscious choice to do all of the paperwork/regulatory stuff on my own. I got my S Corp setup through legalzoom and did all of the thinking myself. I'm doing my own taxes, and I don't plan to hire a CPA any time soon. I'm sure that this approach will cost me in fees and fines here and there but I have a very difficult time believing that I need ANY 'experts' in my life whose work process I don't know anything about. By the time I get around to hiring a CPA I'll have learned enough about the nuts and bolts of this stuff that I'll be able to cut down their fees drastically for the rest of my career. I see it as an investment in business intelligence. Very unlikely to cost me more than 3 college credit hours would lol.

That being said it sucked so hard you wouldn't believe. Damn near became a Republican dealing with the paperwork nightmare they inflicted on me between federal, state, and local taxes alone. Holy **** does government need some simplification.

Last edited by BoredSocial; 07-15-2017 at 10:15 AM.
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